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DBP lends P700-M to industrial park developer

Business

DBP lends P700-M to industrial park developer

By Emmie V. Abadilla

57481

The Development Bank of the Philippines (DBP) extended a P700-million, seven-year, syndicated term loan to Science Park of the Philippines Inc. (SPPI) to finance current and future expansion projects as well as capital expenditures.

The bank expects an influx of locators into industrial parks such as SPPI as the country hosts more firms in manufacturing, logistics, electronics, semiconductors, packaging, food, and other industries, according to DBP President and Chief Executive Officer Emmanuel G. Herbosa.

SPPI was established in 1989 and has developed four Philippine Economic Zone Authority-registered industrial parks with an aggregate area of nearly 800 hectares in Laguna, Batangas, Bataan, and Cebu.

At present, it is constructing two more facilities in Bataan and Batangas, building roads and storm drainages, water distribution, wastewater treatment, power and telecommunication systems.

“DBP will continue to work with various institutions and key players who share the same mission of promoting growth opportunities, while raising the level of competitiveness of our country through infrastructure development," said Herbosa.

Rizal Commercial Banking Corporation was co-lender with DBP while the Investment & Capital Corporation of the Philippines served as financial adviser and lead arranger.

“DBP recognizes this financial collaboration as a huge step in advancing the country’s infrastructure landscape to spur economic development,” said Herbosa.

Related Tags

dbp SCIENCE PARK OF THE PHILIPPINES

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